NEW YORK – Mark Cosby and David Scheiner have been promoted to president and chief operating officer of Federated Department Stores’ Macy’s East and Macy’s Florida divisions, respectively.
Cosby is currently Federated’s senior vice president for property development and succeeds James Gray, who is retiring after 46 years with the company. He will work in tandem with Ron Klein, chairman and chief executive officer of Macy’s East.
Scheiner, who has been vice chairman and director of stores at Macy’s Florida, succeeds Nirmal “Trip” Tripathy, who is leaving the company to pursue another professional opportunity. Julie Greiner is chairman and CEO of the division.
Susan Kronick, vice chair of Federated with responsibility for both divisions, commented, “Both Mark and David are experienced leaders who have a track record of success in managing the operations of complex organizations, as well as a clear understanding of our customer and business priorities.”
Macy’s East has 188 stores and registered sales of US$7.19 billion, more than a quarter of Federated’s total of nearly $27 billion, in 2006. With 61 stores, Macy’s Florida had 2006 sales of $1.76 billion.
Cosby joined Federated in his most recent post last July following positions as president of full-line stores at Sears and chief operating officer of KFC and chief development officer of Yum Brands. Scheiner joined Burdines, the predecessor of Macy’s Florida, in 1972 and left to become president of Maas Brothers/Jordan Marsh in 1988. Following the merger of Maas/Jordan Marsh and Burdines in 1991, he was named vice chairman and director of stores for the combined operation.
Gray, 68, has been president of Macy’s East since 1994. He joined Federated’s Foley’s division, now part of Macy’s South, in 1961 and served in various management capacities with the Burdines and Bullock’s divisions, including CEO of Bullock’s, before relocating to Florida.
At last week’s annual meeting, Federated’s shareholders approved the changing of the corporate name to Macy’s Group, effective next month.